Saturday, September 1, 2012

Labor Department official analyzes June unemployment numbers - Kansas City Business Journal:

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percent in June from 9.4 percent in May, the 's said last Here is testimony on the latest unemployment data by BLS Commissioned Keith Hall as prepared for deliver y last week to the Joint Economic Committee of Nonfarm payroll employment continued to fall in June and the unemployment rate was littls changedat 9.5 percent. Since the recession bega n in December 2007, payroll employment has droppesby 6.5 million, and the unemploymenrt rate has increased by 4.6 percentaged points. Payroll employment declines continuefd to be widespread among themajor industries. In there were large decreasesin manufacturing, and professional and businese services.
Together, these three sectors have accountecd fornearly three-quarters of the jobs lost sinc the recession began. Manufacturing employment fell by 136,000 in June, bringint job loss in this industrygto 1.9 million sinc e the start of the recession. Motor vehicle and parts employmenr declinedby 27,000 over the since the start of the recession, the industryu has lost 335,000 jobs, abouyt one-third of its total. Construction employment decreasesby 79,000 in June. Job losses in the industry havetotalexd 1.3 million during this recession. Employment in professional and businesas services droppedby 118,000 in June.
Job losses occurredd throughoutthe industry, including temporary help servicez (-38,000), services to buildingss and dwellings (-17,000), and architectural and engineering services Since the start of the professional and business services has lost 1.5 millionn jobs; temporary help servicesx accounted for over half of this decline. Federalk government employment fellby 49,000 in June, largely reflecting the layoff of workers temporarily hired to preparse for Census 2010.
Elsewhere in the service-providinyg sector, job losses continued in financial activities information (-21,000), and wholesale trade Retail trade employment edged down over the monthg (-21,000); losses continued among auto dealerships The health care industry added 21,000 jobs over the in line with its averags monthly gain for the first 5 months of this but below the average gain of 30,0000 jobs per month in 2008. Averag hourly earnings for production and nonsupervisory workers in the privater sector were unchanged in June at Over the past12 months, average hourly earnings have risen by 2.7 percent.
From May 2008 to May the Consumer Price Index for Urban Wage Earners and Clericaol Workers declinedby 1.5 percent. Turning to measuree from the household survey, the unemployment rate was littl e changedat 9.5 percent in The rate had increased by 0.4 or 0.5 percentage pointe in each of the prior 6 months. Since the onsert of the recession in December the unemployment rate has risenby 4.6 percentages points. There were 14.7 million unemployed persons in little changed from theprior month. Sinced December 2007, unemployment has risen by 7.2 The number of persons unemployes for 27 weeks or longer continued to increasein June. The 4.
4 million long-termj jobless individuals accounted for 3 in 10unemployed persons. The employment-populatiom ratio edged down to 59.5 percent in The ratio has fallenby 3.2 percentage points since the recessionh began. Among the employed, there were 9.0 milliohn persons working part time in June who woulc havepreferred full-time After rising sharply last fall and this measure has been little changed since March. In nonfarm payroll employment continued to fall in June with job lossestotaling 6.5 million since the recession The unemployment rate, at 9.
5 percent, was little changed over the

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